Where do I learn how to walk??
Hi I'm 18yrs old and I want to learn about Real Estate Investing. I was told by many of my teachers that it is a good way to make money.. I have plenty of time on my hands and I am very eager to learn =).. I guess how much i know and how yung i am would explain why i am asking to learn how to walk 
First thing I'd be doing if I were you is reading lots and lots of books. Also, talk to people you know that invest in real estate and get advise. Since you're young you have time as an advantage but probably don't have any credit or money. I'd definitely start building good credit now, it's invaluable. It takes money to make money but it doesn't have to be your money. If you haven't read "Rich Dad, Poor Dad" then that is the first book I recommend to you. This book will help you get a new outlook on life and explain to you the way to get rich. Basically cash flow management and common sense. Common sense ironically is not so common anymore, especially when it comes to finances. Hope this advise helps.
Agreed,
Rich Dad, Poor Dad. Learn to set and accomplish goals, while always planning for the future. I would suggest your read all the books in Kiyosaki's set.
To your success,
[addsig]
You can meet some experienced real estate investors if you attend a REI club. You should be able to find one in your state if you click on the "Web Links" tab at the top of the page. At the bottom of the left column is says, "Real Estate Investing Clubs." Click on your state and see if you can find one near you to attend a meeting.
They are a great way to network and learn from the pros. Also, read as many posts on this forum as possible. There is a lot of information if you have the time to read it all. Get the basic understandings of the various methods of investing, then decide which one best suits your needs.
Tanya
Hello Rychan!
Welcome to TCI. I work with a few young new investors in different states. If you have a good work effort and a business like approach to investing (it is NOT a get rich quick scheme---definately) you can make some money.
I believe that bird dogging is the best way to get started for most. Read all you can on the bird dog forum here on TCI and as others have mentioned above-read and study looooots!
email me if you have interest in bird dogging as I enjoy helping people get their start!
melre4u@yahoo.com
Best to you,
Mel
Thank you all for your replys!!! Im going out to buy Rich Dad poor Dad today =)!! I figured that I would have to build my credit.. Any advice on how to do that (My age shows in this question) and also it seems 99% of the people I meet have bad credit.. Does this happen to everyone? And again thank you all for your help!..
Oh btw i have no idea what Bird Dogging is. I will start reading up on this now =)
I have to thank you all again.. Today i went online and downloaded Rich Dad Poor Dad (legaly through Barns and NObles) I am almost half way through it and I have learned more about money in these last few hours then i have in my lifetime. Thank you again!
Get a credit card or two and overdraft protection on your checking account. You don't have to always carry a balance, but you should periodically. The point is have and use lines of credit and be religious about paying all of your bills on time.
It's much easier to keep it good than to restore it. I'm 26, never bought a car on credit or real estate for that matter (trying to fix that). I've done just that as has my wife and our credit scores are between 780 and 800.
Some people recommend depositing money in the bank (like a CD or money market) and then taking out a loan and paying it back, using the CD as collateral. I haven't done that, but that too will build your credit.
One final point, sometimes someone makes you mad, rips you off, etc. Sometimes your better to pay them and then argue it rather than withhold payment. I know that's hard to do when you're frusterated or angry, but a $20 fee that you shouldn't have had to pay won't be much when you're buying assests worth $150K and up and making you more money than that.
Make sure you also get "The Richest Man in Babylon" as reading material. I would also get Napoleon Hill's "Think and Grow Rich", as well as Tony Robbin's "Awaken the Giant Within" into your library.
Find yourself a mentor. Offer to exchange your time for their knowledge. Have them utilize you to help them help you. I hope that makes since. .. LOL This business is a lot of work .. but can be very rewarding. You can make lots of money.. however being money smart is one of the most important tools you will need.. that and patients.. Also take out the $ in front of the numbers… meaning .. if you look at this like … I need this deal .. I can make 6 car payments… go to Spain for a week.. etc.. it will impair your vision on real estate.
I think you will need to decide if Real Estate is for you. If you do not like the real estate industry then I would tell you to find something else you would like.
Did someone mention library? My suggestion to all newbies is go to the nearest well-funded library and borrow some real estate investing books. Part of learning to make money is learning to save it. Why buy a book if you can borrow it? I know that libraries don't always carry the latest and greatest, but they'll have some good reads. Most of the books mentioned I read through the library. Heck, I live in Hickville, but I can drive 20 minutes to the next city and pull some good books. I'm sure you Big city guys have better libraries, right?
Just my 2 cents.
Roger
<LOL> good sugestion. I actually haven't bought that many books (besides "subject to...."
I have a friend who works at Barnes n' Noble who borrows them for me. Workers at Barnes n' Noble can borrow any book for two weeks, if you know someone who works there you will always have the newest books and they are always available. I guess you could also be one of those people who camp out in the book store, i've never found that to be to convenient/comfortable.
Andy
I recommend you buy Investing in Real Estate, Fourth Edition by Gary Eldred. It's a very good book and he's very through in how he explains things and never just throws something out there and leaves you wondering exactly what the heck he's talking about. The best thing of all is the book is only $14 dollars!!! its a STEAL!!! Your best bet is to do the research first and that definitely means investing some money in books.
I have always said to contact your local courthouses .They have plenty of information and are glad to help you
check out www.wowworks.com
take care